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This press release contains forward-looking information that is based on assumptions and is subject to risks and uncertainties as set forth in the cautionary statement contained in this press release. All dollar amounts are in Canadian dollars unless otherwise noted.
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TORONTO – Dream Industrial Real Estate Investment Trust (DIR.UN-TSX) (the “Trust” or “Dream Industrial REIT” or “Dream Industrial” or “we” or “us”) today announced the maintenance of its issuer rating and senior unsecured note upgrade from BBB to BBB (high) with stable trends, assigned by Morningstar DBRS (“DBRS”).
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“We are proud to announce an increase in our credit rating to BBB (high),” said Alexander Sannikov,
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President and Chief Executive Officer of Dream Industrial REIT. “This rating upgrade reflects the strength of our urban industrial portfolio and the continued resilience of our business. We remain firmly committed to disciplined capital allocation, maintaining a conservative balance sheet while pursuing value creation opportunities that maximize long-term value for our shareholders.”
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Following the modernization, the Trust expects a reduction in borrowing costs on its existing $750 million unsecured syndicated revolving credit facility, its existing $250 million unsecured term loan and its €153 million unsecured term loan, effective upon next drawdown. The reduction in borrowing costs varies by facility by up to 25 basis points (“bps”) per annum, in addition to an immediate 5 bps standby fee reduction for the revolving credit facility.
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“This upgrade represents one of the highest credit ratings currently assigned by DBRS in the Canadian REIT universe. It recognizes and reinforces confidence in the REIT’s balance sheet strength and credit quality, which we expect will result in lower borrowing costs in the future,” said Lenis Quan, Chief Financial Officer of Dream Industrial REIT. “As we look to refinance our upcoming debt maturities, we expect the lower cost of debt on a pro forma basis to be accretive to our annualized FFO per unit.”
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About Dream Industrial Real Estate Investment Trust
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Dream Industrial REIT owns, manages and operates a global portfolio of well-located, diversified industrial properties. As of September 30, 2025, the REIT owns and manages a portfolio comprising 340 industrial assets (552 buildings) totaling approximately 73.2 million square feet of gross leasable area in key markets in Canada, Europe and the United States. The REIT’s objective is to provide high total returns to its shareholders through safe distributions as well as growth in net asset value and cash flow per unit, supported by its high quality portfolio and investment grade balance sheet. Dream Industrial REIT is an unregistered, open-ended real estate investment trust. For more information, visit www.dreamindustrialreit.ca.
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Forward-Looking Information
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View source version on businesswire.com:
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https://www.businesswire.com/news/home/20251126615636/en/
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For further information please contact:
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Dream Industrial REIT
Alexander Sannikov
President and Chief Executive Officer
(416) 365-4106
asannikov@dream.ca
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Lenis Quan
CFO
(416) 365-2353
lquan@dream.ca#distro
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